We've revamped our residential product range

We've revamped our bridge-to-let, development exit and refurbishment products. The changes further enhance our competitive and flexible lifecyle lending proposition and are in direct response to demand from its increasingly diverse range of property profressionals.

We've reduced rates to 6.99% per annum for our established bridge-to-let product and development exit products. The products have a minimum loan size of £500k and loans over £10m will be considered. The bridge-to-let product sits perfectly within our lifecycle lending proposition, giving investors and developers the ability to refinance their completed schemes whilst giving them the option of either selling or retaining the properties. Both products also have the option for a 12-month ERC free period.

Our refurbishment product, increasingly popular at a time when parts of the UK housing market are cooling, covers most types of refurbishment, from light works through to full conversions. The product now offers some of the lowest rates in the market, 0.8% per month, as well as a maximum loan-to-value of 75% net on day one, 90% loan-to-cost and 70 loan-to-gross development value, supporting the increasing number of borrowers seeking alternative ways to achieve favorable returns on their property investment and development.

We are committed to providing a range of products that reflect changing market demand and offer both existing and new borrowers even cleaner products, at increased levels of gearing and on more favorable rates. The real estate market continues to evolve, driven by both fiscal and regulatory changes as well as broader market uncertainty and we will continue to leverage the expertise and track record of the team here at Octopus to improve and innovate our offering.